Thursday, August 05, 2021

Friday Watch

Evening Headlines
Bloomberg:           
Wall Street Journal:
Fox News:
NY Post: 
CNBC.com: 
Zero Hedge:
TheGatewayPundit.com:
Night Trading 
  • Asian equity indices are -.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 89.0 unch.
  • China Sovereign CDS 38.75 -.25 basis point.
  • Bloomberg Emerging Markets Currency Index 59.84 -.03%.
  • Bloomberg Global Risk-On/Risk Off Index 2,621.0 -45.0 points.
  • Volatility Index(VIX) futures 21.4 +.43%.
  • FTSE 100 futures -.01%.
  • S&P 500 futures -.06%.
  • NASDAQ 100 futures unch. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (D)/.77
  • (DKNG)/-.58
  • (FLR)/.08
  • (GT)/.17
  • (LEA)/2.47
  • (MGA)/1.41
  • (NCLH)/-2.00
  • (NUAN)/.18
  • (SRCL)/.67
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • The Change in Non-Farm Payrolls for July is estimated to rise to 870K versus 850K in June.
  • The Unemployment Rate for July is estimated to fall to 5.7% versus 5.9% in June.
  • Average Hourly Earnings MoM for July is estimated to rise +.3% versus a +.3% gain in June.
10:00 am EST
  • Wholesale Trade Sales MoM for June.
3:00 pm EST
  • Consumer Credit for June is estimated to fall to $23.0B versus $35.28B in May.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The China Trade Data report could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and financial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 100% net long heading into the day.

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